Ned O'Sullivan (Fianna Fail)

The Leas-Chathaoirleach is being very lenient this morning and afternoon as I have never heard as many Second Stage speeches on a recommendation in my life. We had a full Second Stage debate yesterday and the Minister of State was very good to listen and respond to it. I will speak to the recommendation, with which I do not agree.

We are not spending money but affording the Minister a facility whereby there will be no funding cap if suitable products arise in which he or she would like to invest. I am a businessman and any businessperson embarking on a development must get the ducks in a row to ensure there is a facility for laying out money. If I get a facility from my bank of €250,000 for a job, it does not mean I will spend that amount, although I will be sure I am not stuck for it. We are giving the Minister a reasonable and realistic amount, and if we keep developing as we have been, the existing cap will be gone by 2012. We are affording a facility to the Minister and there are checks and balances, which must be in place.

I understand the spirit of Senator Barrett's motion and there is evidence of waste from some of the Celtic tiger years, so perhaps checks and balances were not applied properly. I referred to that in my Second Stage speech yesterday. We do not want white elephants but we need good proven projects and proper business plans and management structures before anybody gets a shilling from the State. I cannot agree with the recommendation as it would impede the Minister's progress.